If beginning inventory was $20 000, total purchases for the period were $80 000, freight-in was $4 000 and ending inventory was $45 000, the cost of sales for the period would be:

Name: If beginning inventory was $20 000, total purchases for the period were $80 000, freight-in was $4 000 and ending inventory was $45 000, the cost of sales for the period would be:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Cost of sales = Beginning inventory + Purchases + Freight-in - Ending inventory= 20,000 + 80,000 + 4,000 - 45,000= $59,000

If Beginning Inventory Was $20 000, Total Purchases for the Period